Markets
markets
Luke Kawa

Ho-hum May jobs report sends stocks higher

US nonfarm payrolls rose by 139,000 in May, solidly above estimates for 126,000, while the unemployment rate held steady at 4.2% as anticipated.

SPDR S&P 500 ETF and Invesco QQQ Trust extended premarket gains to session highs in the wake of the data, with iShares Russell 2000 ETF pushing more than 1% to the upside.

Heading into this report, there had been some nascent signs of concern about the US labor market — in particular the climb in continuing jobless claims. The headline figures from this jobs report should allay any worries, even as the details of the data were unspectacular to soft. Notably, revisions were brutal, showing that 95,000 fewer jobs were added in March and April than previously thought.

In any event, the pricing of Federal Reserve easing through year-end has dipped from above 50 basis points to below that threshold following this release, suggesting the theme of economic resilience is carrying the day across stock and bond markets.

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Luke Kawa
8/17/26
Credit markets have a “debt” problem, not a “risk” problem

We’re getting a lot of borrowing, and that borrowing is risk-reducing (for now!)

New York City Architecture And Monuments
Luke Kawa
7/13/26
Meet the newly public, Bezos-backed company that’s recreating the sun and stars

General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

Web Summit Vancouver 2026 - Day Three
markets
J. Edward Moreno

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

Floridians Seek Employment Opportunities At Job Fair In Sunrise
Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

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